Reason Roundup

Robby Soave | 6.14.2024 9:30 AM

Donald Trump wants to cut taxes if he gets a second term. On Thursday, the former president told a group of influential business leaders—Apple's Tim Cook and JPMorgan Chase's Jamie Dimon among them—that he supports reducing the corporate income tax from 21 percent to 20 percent. He prefers a "round number," according to The New York Times.

While that may not seem like a massive difference, it is quite a contrast with President Joe Biden's tax policy. The 2017 corporate tax cuts are set to expire in 2025, at which point the tax rate would revert to 35 percent. Biden has proposed a corporate tax rate of 28 percent.

Trump's relationship with business leaders has not always been positive. Many of the gathered CEOs—who met with Trump during a meeting of the Business Roundtable in Washington, D.C., on Thursday—had denounced him in the wake of the Capitol riot. But according to the Times, Trump largely succeeded in reassuring them that he would pursue pro-growth policies.

And while Trump savaged illegal immigration and complained that millions of illegal border crossers would wreck the country, he did express support for high-skilled legal immigration, saying it was a profound mistake to send such people back to their home countries after they are educated in the U.S. These remarks also seemed to please the businessmen. (It should be noted, of course, that low-skilled immigrants are no less vital to the American economy.)

Now for the bad: During a meeting........

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